Good afternoon, dear reader!
Comment for last week:
The currency pair demonstrates the "classics of the genre" and we observe the figure of trading - "Double bottom".
The asset did not grow badly last week, taking advantage of the weakness of the UK economy and the persistent stance of the government of Boris Johnson to not extend the transition period.
Bottom line: an increase of 2.35% or 205 points.
Technical analysis:
H1 (Technical) -H4 (indicative)
The currency pair broke through the resistance zone located at 0.8812, after which it used it as support. At these levels, we got a fairly tight range, in which sellers accumulated at 0.8870, but she fell victim to the bulls.
Indicative analysis provides the following information:
High overbought on 1-hour and 4-hour time frames (Asset is located in a potential sales area).
The price behavior indicator shows that the bulls are overdoing and further movement looks excessive.
=> The most likely scenario, excluding force majeure, involves the correction of a currency pair:
a) Correction may be limited to the zone - 0.8867;
b) If the zone - 0.8867 can not restrain profit taking, then the next zone will be - 0.8812;
c) For a certain period of time, the asset may continue to grow to 0.8991 (38.2% - Fibonacci level), but its further movement seems limited;
Global Variables:
• Volatility: Weekly = 76 points // Monthly = 88 points // Quarterly = 81 points.
• Trends: The beginning of the uptrend, the 55 - day average is above 100 - day and 200 - day.
• Range Ratio: 232 points (increase from 126 points).
Recommendations:
We recommend accurate sales this week, however, to open positions you need to see consolidation.
However, sellers' attention should be focused on the support levels that are presented above.
But as soon as the price reaches the necessary levels, we will strive to open long positions.
Regards to subscribers,
Wermelgion & Partners Invest.
More information and graphs on our facebook.
• Profitability of WMCI Asset Management Fund for May + 10.93%;
• Yield of HMS Royal Oak for May + 14.53%;
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
Comment for last week:
The currency pair demonstrates the "classics of the genre" and we observe the figure of trading - "Double bottom".
The asset did not grow badly last week, taking advantage of the weakness of the UK economy and the persistent stance of the government of Boris Johnson to not extend the transition period.
Bottom line: an increase of 2.35% or 205 points.
Technical analysis:
H1 (Technical) -H4 (indicative)
The currency pair broke through the resistance zone located at 0.8812, after which it used it as support. At these levels, we got a fairly tight range, in which sellers accumulated at 0.8870, but she fell victim to the bulls.
Indicative analysis provides the following information:
High overbought on 1-hour and 4-hour time frames (Asset is located in a potential sales area).
The price behavior indicator shows that the bulls are overdoing and further movement looks excessive.
=> The most likely scenario, excluding force majeure, involves the correction of a currency pair:
a) Correction may be limited to the zone - 0.8867;
b) If the zone - 0.8867 can not restrain profit taking, then the next zone will be - 0.8812;
c) For a certain period of time, the asset may continue to grow to 0.8991 (38.2% - Fibonacci level), but its further movement seems limited;
Global Variables:
• Volatility: Weekly = 76 points // Monthly = 88 points // Quarterly = 81 points.
• Trends: The beginning of the uptrend, the 55 - day average is above 100 - day and 200 - day.
• Range Ratio: 232 points (increase from 126 points).
Recommendations:
We recommend accurate sales this week, however, to open positions you need to see consolidation.
However, sellers' attention should be focused on the support levels that are presented above.
But as soon as the price reaches the necessary levels, we will strive to open long positions.
Regards to subscribers,
Wermelgion & Partners Invest.
More information and graphs on our facebook.
• Profitability of WMCI Asset Management Fund for May + 10.93%;
• Yield of HMS Royal Oak for May + 14.53%;
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
